The recent conflict between Ripple and the U.S. Securities and Exchange Commission has concluded, sparking intense discussions among experts in finance and cryptocurrency.
Technology and Trust as Foundations for Adoption
Debates on banking innovations began with a reflection by Tom Zschach, CIO of SWIFT. He pointed out that surviving lawsuits does not reflect true resilience, as successful technology adoption in finance requires trust, compliance, and shared governance.
Ripple: Praise and Critique
In the comment section under Zschach's post, a Ripple supporter praised the company for enduring regulatory scrutiny for nearly five years, thus portraying XRP as a 'battle-hardened' project that demonstrates resilience and an emphasis on compliance.
Risks and Management in Banking Systems
Zschach continued by asserting that true resilience is not about centralized or decentralized systems, but about how banks manage risks. He emphasized that financial institutions tend to favor assets on their own balance sheets, which helps maintain control over liquidity.
The discussion about Ripple's know-how and approaches to adopting new technologies raises important questions about risk management and trust in financial systems.
